Channel NewsAsia
Updated: 02/18/2014 19:46 | By Channel NewsAsia

More active start-ups in Singapore

More active start-ups in Singapore

More active start-ups in Singapore

SINGAPORE: The number of active start-ups in Singapore jumped by more than 58 percent -- from 2005 to 2012 -- to 39,000, according to a study of Singapore's entrepreneurial landscape by the Entrepreneurship Review Committee.

The study also showed that more youths are thinking of becoming entrepreneurs.

The number of successful start-up exits has also increased.

Responding to a question in Parliament on Tuesday, Minister of State for Trade and Industry Teo Ser Luck said the committee has recommended that the private sector play a larger role in shaping the entrepreneurship landscape.

He said: "The committee recommended that focus be given to helping start-ups grow, through facilitating collaboration with larger companies and expanding overseas.

"Finally, the committee recommended continued focus on infrastructure to support start-ups, and training and education to equip youths with entrepreneurial skills."   - CNA/al

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